U Power Limited (NASDAQ:UCAR) Sees Large Drop in Short Interest

U Power Limited (NASDAQ:UCAR) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totaling 211,636 shares, a decrease of 36.5% from the April 30th total of 333,118 shares. Approximately 46.0% of the shares of the company are short sold. Based on an average daily volume of 537,595 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of U Power

An institutional investor recently raised its position in U Power stock. Bank of America Corp DE raised its position in U Power Limited (NASDAQ:UCAR) by 132,855,200.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,328,553 shares of the company’s stock after buying an additional 1,328,552 shares during the period. Bank of America Corp DE owned about 288.82% of U Power worth $50,000 as of its most recent filing with the SEC. Institutional investors own 13.21% of the company’s stock.

U Power Trading Down 3.4%

Shares of NASDAQ UCAR opened at $1.40 on Wednesday. U Power has a 12-month low of $0.38 and a 12-month high of $49.80. The firm’s 50-day simple moving average is $1.35 and its 200 day simple moving average is $10.31.

Analyst Ratings Changes

A number of research firms have weighed in on UCAR. Wall Street Zen downgraded shares of U Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of U Power in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, U Power has an average rating of “Hold” and an average price target of $50.00.

U Power Company Profile

U Power Limited, together with its subsidiaries, engages in the development, manufacture, and sale of new energy vehicles and battery swapping stations in the People's Republic of China. It also offers battery swapping and sourcing, as well as technical and consultation services. The company was founded in 2013 and is headquartered in Wuhu, the People's Republic of China.